New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-08-01
MONEY And BUSINESS.

MONEY AND BUSINEoS.
For six months certain papers and people
have been saying that = No sort Of question
exists as to the condition of affairs; every
sane man sees prosi eIity abOundng there
seems no threat anywhere; any cline is
artificial the result Of manipulation to
buy or of "senselcss apprehension Such
talk is pleasing to brokers' who anxlously walt
for the public to buy. Meanwhile, The
TRIBUNE has recorded evidence OF prosper
ity, but has also pointed out that there were
causes of distrtst; that the monetary future
was uncertain, and the effect oil the Interstate
law that gigantic SIP C latlons III 81 ck',
real estate beef, pork, cotton and coffee mad
absorbed great sums, and threat ned resu.ts
such as like causes had before produced anu
that the price of iron, rec, gn zed barometer
of pro D ,rty, begin to decline LII March,
after eighteen months of advance, the con-
sumption of pig being sm4ller during the last
half wear than in the last half OF 1856 The
proof of the pudding is in the eating. Spec
ulation has distu bed buiness, anu tn col
lapse has been followed by lower p,iccs
Stocks closed on Saturday with an average
of $63 o. ut decline OF Us 80 Tor inc week.
and So for the month. The average price was
81 80 lower than at the lowest In June or
In January, and lower thin year ago, when
it was $63 II, large assessments having mean
while been paid. There was no panic or ex-
element, only people who have waited Tor Tue
public concluded to wait no loi ger, Inc
fai .ure Of Philadelphia bank and oil one
or two small firms heie would have counted
for nothing had other conditions favored an
advance Wheat closed at rs 81 July 80
against 81 OF June 3d. corn dccl ned Only
Gye-eighths for the month, but oats z 80
and oil A II cents. Liquidation In co toh
continues. the decline during the week having
been thrce-cig tbs, and during the month
81 O6 per 100 pounds. Coffee declheu las.
week. though higher than a month ago. anu
the pork speculation does not yield. bei Is
lover but coal. iron and ell are unchaI gcd
in price for the week AMI month thoush
agents announce an advance OF 10 cents IN
cual.
The banks lost a million from their re-
Serves but apparently no drain to the west
begns as vet. At Boston there Is some
string ncy. but the NcwYcrk market Is FAIR
Iy supplied though the tone Is more hrm.
The Treasury took in s., 10000 more than
II Maid out last week. ncIrly all gold, ana inc
,rust funds held for bank Calculation de-
creased only $726O00 1t was hoped that
| woT prices would insure large exports but
for four weeks Of July the value oil exports
from New-York was $23 7S9S1, az nst
< : 939. $50 last year, decline OF 50 per
cent. and meanwhile imports for four weeks
ling with Saturday were S36,33O,oio,
aga INST s33,32O. gS4 last year, al INCREASE OF
9 ncr cent. Certainly there is nothing in the
merchandise movement to brns specie IN
this direction. N
The truth is that period OF low prices all
over the world has been brought TO an emu
by the operations Of slngunc Amercon spcc-
ulators. and though prices here are ill'e
higher than year ago, the tendency OF iate
has bccn downward The average OF prices OF
commodities is / l. per cent, lower than ~
wos .Julv |. though coffee and sugar have ad-
vanced and iron Or ducts are not changed !;
for brcadstulIs beef and cotton have de-
cIncd The greatly increased circulation,
since n wear ago. has found employ ment In
al estate opcrations thro ghout tn" country
in the rise OF rents. and the building oil many
thousand new dwellings AMI Stores III inc
rapid construction OF n W railroads, ana Id
the movement of population into to"hS anu
villages along new m roads where banking
and other facilities for economizing the use
of money are little known. In IN SO
directions the expansive force due to added
nancr circulation finds vent, and those who
calculated on a lasting initiation OF prices
have been disappointed. Labor Is generally
we'll employed and is CITING larger wages
than year ago. But the cost OF production
is consequently higher w il few MAJ u act
ured products sell at higher price. Cotton
sbcctinps arc higher but print cloths are
lower and wool and leather goods generally
a. low or lower The worlds low prices
mike tbe farmers feel poor, and when they
buy sparngly it is found hard mater,aiiN 10
advance prices of manufactured prouuc''